It was another record-setting week for gold, which neared the US$2,700 per ounce mark on Thursday (September 26). The new milestone came only six days after the metal closed above US$2,600 for the first time.
Market participants have also been keeping a close eye on silver, which tends to lag behind gold and then outperform. While the white metal remains far from its all-time peak, this week it passed US$32.60 per ounce, marking a 12 year high.
Silver has risen approximately 37 percent in 2024, beating gold’s increase.
Although silver is a precious metal, it has important industrial uses as well, including in solar panels.
Microsoft reportedly plans to use the power to run data centers, which provide the energy needed for artificial intelligence (AI) technology. Like many big tech companies, Microsoft is getting increasingly entrenched in the AI sector, with its efforts including a multibillion-dollar partnership with OpenAI, the creator of ChatGPT.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
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